What is the purpose of Fortum's Swedish state aid application for the Oskarshamn nuclear project?

Fortum submitted an application for Swedish state aid to build new nuclear reactors at the existing Oskarshamn site in southeastern Sweden, where power demand is projected to surge in the coming decades; the application—filed through its wholly owned subsidiary Nucore Energi—formally initiates discussions with the Swedish state over potential support, but does not constitute an investment decision.

What are the key features of the proposed nuclear facility at Oskarshamn, including capacity range, technology options, and ownership structure?

The proposed facility would have a capacity ranging from 1.2 to 3.4 gigawatts, with final size dependent on technology choice, expected demand growth, and state risk-sharing terms; three candidate technologies are under consideration—two large-scale reactors and one small modular reactor—from Westinghouse Electric Co., Electricite de France SA, and GE Vernova Hitachi Nuclear Energy; Fortum plans to be a minority holder, as the project is deemed too large for it to undertake alone—even at a 51% stake—despite being a major Nordic utility.

Fortum Seeks Swedish State Aid for Oskarshamn Nuclear Project

Aug 27, 2026

Fortum has applied for Swedish state aid to construct new nuclear reactors at the Oskarshamn site to meet surging future power demand. The proposed facility, potentially up to 3.4 gigawatts, will rely on government support and technology selection from major global suppliers.

bloomberg

2026-08-27

Fortum Seeks Swedish State Aid for Oskarshamn Nuclear Project

Fortum Seeks Swedish State Aid for Oskarshamn Nuclear Project

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